Introduction to Customer Messages and Notes

The following main functionalities are released part of the Customer Messages and Notes module:

• Customer Messages and Notes.
• Customer Based Holds.

Customer Messages and Notes

Banks are in need of on-line messages which would alert the users regarding certain information of the customer, before they authorize any financial or non-financial activities. For example the administrator may warn the user that the customer for whom the current transaction is triggered has been involved in fraudulent activities or has defaulted in a loan payment, Garnishee, etc. This prevents either debiting or crediting such account etc.

The alert message should be easily configurable by the administrator and also alert the users regarding posting restriction created at both customer and account level in the system.

Customer - Container Switch: In Canadian market, there are 2 types of financial institutions namely credit unions and banks. The approach towards customer process is slightly different for both financial institutions. The differences are highlighted below.

The development has been done to raise override messages to alert the user while doing financial and non-financial transactions which can be configured by the administrator.

The below are functionality covered.

• Online Messages:
  • Ability to set standard override messages.
  • Ability to set any free text overrides messages.
  • Messages are to be set for customers and should appear in all the financial and non-financial transactions done for customers.
• Posting restrict:
  • Ability to set up the expiry date of a restriction.
  • When a restriction is created at customer or account level, the administrator has the option of indicating the type of financial restriction that needs to be applied, that is either DR or CR, or both.
  • Once the restriction has been put on a customer or account, for all financial transactions override will be raised. Until the override is authorized by user of the required class, the transaction will not be completed.

  Standard messages:

  • Ability to configure customised override messages.
  • Ability to configure message start date and end date.

  User restriction:

  • Bank users are restricted to initiate any kind of transactions on their own accounts or accounts or products wherein they are associated as Relation customers or Joint owners.
  • Ability is available to restrict the bank user from making any amendments on the existing record where the user is related to.

Customer Based Holds

This functionality allows users to hold a certain amount for a specified number of days for cheque type of transaction deposited in the branch or ATM based on the type of customer, cheque, currency and transaction type.

Canadian Model Bank is one of the many regional model banks implemented in Temenos Transact. This layer currently includes some generic functionality that could also be used in other regions. It is Temenos’ strategic plan to incorporate these features into Temenos Transactin order to reduce the amount of Non-core code maintained by Temenos.

When a cheque is deposited in a bank it takes a minimum number of days to go through the clearing process for the cheque amount to be available for the customer. This period is parameterized as hold days in Temenos Transact. The bank allows the customer to withdraw a certain amount before the cheque gets cleared. The provision to parameterise the hold days and the amount to be locked is available as a part for NACUST product.

The benefits of this functionality are listed below:

• Ability to hold a portion or a whole amount of the cheque until the expiry of the specific time period.
• The hold days and the hold amount are parameterized based on certain predefined conditions, predominantly based on the currency, customer type and membership type. Enables the user to determine the amount withheld per customer, per currency on a daily basis and compare the same while a new cheque is deposited.
• Amount that is available for customer immediately upon cheque deposit, can be configured for each cheque or be configured customer wise per day.
• Ability to hold the amount on the transaction based on the specific group of the customers using the new Nacust Hold Group>Group field in the CUSTOMER record.
• Enables the user to be able to hold the payment date of the cheques deposited at either the counter or via an ATM based on parameterised hold days or amounts.
• The hold days and the hold amount are parameterized based on certain predefined conditions, predominantly based on the currency, customer type and membership type.
• Enables the user to determine the amount withheld per customer, per currency on a daily basis and compare the same while a new cheque is deposited.
• User defined balance holds applicable to different categories of customers on balances of one, several or all of their financial products with the financial institution. Holds are generated through outward clearing cheque deposits.